Loading...
•
Jun 30, 2023
Varex Imaging Q3 2023 Earnings Report
Varex Imaging announced financial results for the third quarter of fiscal year 2023, with revenues reaching a new quarterly record and non-GAAP gross margin exceeding expectations.
Key Takeaways
Varex Imaging reported revenues of $232 million, a new quarterly record, with a GAAP gross margin of 33% and a non-GAAP gross margin of 34%. The company's cash position increased by $30 million due to efforts to reduce inventory levels and improved profitability.
Revenues reached $232 million, a new quarterly record.
GAAP gross margin was 33%, while non-GAAP gross margin was 34%.
GAAP net earnings were $0.21 per diluted share, and non-GAAP net earnings were $0.37 per diluted share.
Cash flow from operations was $38 million, resulting in a $30 million increase in overall cash position.
Varex Imaging
Varex Imaging
Varex Imaging Revenue by Segment
Revenue by Segment
Medical Segment Revenue
CapyFin.comIndustrial Segment Revenue
CapyFin.com Forward Guidance
For the fourth quarter of fiscal year 2023, Varex Imaging expects revenues between $220 million and $240 million, and non-GAAP net earnings per diluted share between $0.20 and $0.40.
Revenue & Expenses
Visualization of income flow from segment revenue to net income